Brazil’s Guedes says Eletrobras won’t be able to invest enough to keep up with stronger economic growth

By Sonali Paul Posted on April 7, 2022

Brazil’s Economy Minister Paulo Guedes walks before a national flag hoisting ceremony in front of Alvorada Palace in Brasilia

BRASILIA (Reuters) – Brazil’s Economy Minister Paulo Guedes said on Thursday that state-run power company Eletrobras will not be able to invest enough to keep up with stronger economic growth expected for the coming years.

Speaking at an event hosted by The Federal Court of Accounts to discuss the planned share offering from Eletrobras to attract more funding, Guedes said that the privatization process is a “decisive step”.

(Reporting by Marcela Ayres)